William Wang Yang - May 4, 2023 Form 4/A - Amendment Insider Report for Yum China Holdings, Inc. (YUMC)

Role: Director
Signature: /s/ Jonathan Gaines, Attorney-in-Fact
Stock symbol: YUMC
Transactions as of: May 4, 2023
Transactions value $: -$70,785,157
Form type: 4/A - Amendment
Date filed: 5/8/2023, 01:59 PM
Date Of Original Report: May 4, 2023
Previous filing: Nov 7, 2022
Next filing: Jun 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	YUMC	Common Stock, $0.01 par value	Sale	-$70.8M	-1.14M	-8.62%	$62.31	12M	May 4, 2023	See Footnotes	F1, F2
holding	YUMC	Common Stock, $0.01 par value						34.8K	May 4, 2023	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The common stock is held directly by Pollos Investment L.P. ("Pollos Investment"). The limited partnership interests of Pollos Investment are ultimately owned by a private fund ("Fund") for which an affiliate of the Reporting Person is special limited partner ("Special Limited Partner") and has a contingent right to receive a performance fee. The Reporting Person is a shareholder of the parent company of the general partner of the Special Limited Partner (the "Parent Company") and may be deemed to have pecuniary interest through his indirect entitlement to receive a share of any Fund performance fee. At the request of an ultimate withdrawing limited partner who is not affiliated with the Reporting Person, Pollos Investment sold 1,136,016 shares of common stock of YUM China Holdings, Inc. (the "Transaction") and the proceeds of such sale, after costs and repayment of certain liabilities of Pollos Investment, were distributed to such withdrawing limited partner.
F2	The Reporting Person disclaims beneficial ownership of the securities and derivative instruments held directly by Pollos Investment, including in the shares sold in the Transaction, except to the extent of his pecuniary interest, if any, in such securities or instruments as a result of his interest in the Parent Company, and inclusion in this form shall not otherwise be deemed an admission of beneficial ownership for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose.

Content

The common stock is held directly by Pollos Investment L.P. ("Pollos Investment"). The limited partnership interests of Pollos Investment are ultimately owned by a private fund ("Fund") for which an affiliate of the Reporting Person is special limited partner ("Special Limited Partner") and has a contingent right to receive a performance fee. The Reporting Person is a shareholder of the parent company of the general partner of the Special Limited Partner (the "Parent Company") and may be deemed to have pecuniary interest through his indirect entitlement to receive a share of any Fund performance fee. At the request of an ultimate withdrawing limited partner who is not affiliated with the Reporting Person, Pollos Investment sold 1,136,016 shares of common stock of YUM China Holdings, Inc. (the "Transaction") and the proceeds of such sale, after costs and repayment of certain liabilities of Pollos Investment, were distributed to such withdrawing limited partner.

The Reporting Person disclaims beneficial ownership of the securities and derivative instruments held directly by Pollos Investment, including in the shares sold in the Transaction, except to the extent of his pecuniary interest, if any, in such securities or instruments as a result of his interest in the Parent Company, and inclusion in this form shall not otherwise be deemed an admission of beneficial ownership for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose.

Remarks:

This Form 4/A is being filed to correct a typographical error in Table I, box 5 on the original Form 4 filing.